Cypress Semiconductor (CY) Downgraded by BidaskClub

Cypress Semiconductor (NASDAQ:CY) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Wednesday, BidAskClub reports.

Other research analysts have also issued research reports about the stock. Zacks Investment Research raised shares of Cypress Semiconductor from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research note on Wednesday, May 1st. MKM Partners raised their price objective on shares of Cypress Semiconductor to $18.00 and gave the company a “buy” rating in a research note on Friday, March 15th. Bank of America reissued a “buy” rating and issued a $18.00 price objective on shares of Cypress Semiconductor in a research note on Thursday, March 14th. Needham & Company LLC reissued a “buy” rating on shares of Cypress Semiconductor in a research note on Thursday, March 14th. Finally, Craig Hallum reissued a “buy” rating and issued a $18.00 price objective (down previously from $20.00) on shares of Cypress Semiconductor in a research note on Friday, February 1st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the stock. Cypress Semiconductor currently has a consensus rating of “Buy” and an average price target of $17.21.

Shares of CY opened at $15.41 on Wednesday. Cypress Semiconductor has a 1-year low of $11.75 and a 1-year high of $18.59. The stock has a market cap of $5.63 billion, a price-to-earnings ratio of 13.28, a P/E/G ratio of 1.74 and a beta of 1.96. The company has a quick ratio of 1.23, a current ratio of 1.82 and a debt-to-equity ratio of 0.40.

Cypress Semiconductor (NASDAQ:CY) last posted its quarterly earnings data on Thursday, April 25th. The semiconductor company reported $0.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.08. Cypress Semiconductor had a net margin of 14.97% and a return on equity of 21.23%. The business had revenue of $539.00 million during the quarter, compared to analyst estimates of $535.13 million. During the same quarter last year, the firm posted $0.27 earnings per share. The business’s revenue for the quarter was down 7.4% compared to the same quarter last year. As a group, equities research analysts predict that Cypress Semiconductor will post 0.89 earnings per share for the current fiscal year.

In related news, EVP Trent Thad sold 17,000 shares of Cypress Semiconductor stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $15.35, for a total value of $260,950.00. Following the completion of the transaction, the executive vice president now owns 340,117 shares in the company, valued at $5,220,795.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Sudhir Gopalswamy sold 3,000 shares of Cypress Semiconductor stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $15.87, for a total transaction of $47,610.00. Following the completion of the transaction, the executive vice president now owns 165,031 shares of the company’s stock, valued at approximately $2,619,041.97. The disclosure for this sale can be found here. Insiders sold 39,710 shares of company stock valued at $632,742 in the last quarter. 0.55% of the stock is owned by insiders.

Institutional investors have recently modified their holdings of the stock. Essex Savings Bank purchased a new stake in shares of Cypress Semiconductor during the 4th quarter worth approximately $25,000. Loeb Partners Corp purchased a new stake in shares of Cypress Semiconductor during the 4th quarter worth approximately $25,000. Resources Investment Advisors Inc. lifted its position in shares of Cypress Semiconductor by 52.1% during the 4th quarter. Resources Investment Advisors Inc. now owns 2,003 shares of the semiconductor company’s stock worth $25,000 after buying an additional 686 shares during the last quarter. PRW Wealth Management LLC purchased a new stake in shares of Cypress Semiconductor during the 4th quarter worth approximately $25,000. Finally, Sterling Investment Advisors Ltd. purchased a new stake in shares of Cypress Semiconductor during the 1st quarter worth approximately $30,000. Institutional investors own 81.36% of the company’s stock.

Cypress Semiconductor Company Profile

Cypress Semiconductor Corporation designs, develops, manufactures, markets, and sells embedded system solutions worldwide. It operates in two segments, Microcontroller and Connectivity Division, and Memory Products Division. The Microcontroller and Connectivity Division provides microcontroller (MCU), analog, and wireless and wired connectivity solutions, including Traveo automotive MCUs; programmable system-on-chip and general-purpose MCUs; analog power management integrated circuits and energy harvesting solutions; CapSense capacitive-sensing controllers; TrueTouch touchscreens; Wi-Fi, Bluetooth, and Bluetooth low energy; and USB controllers comprising solutions for the USB-C and USB power delivery standards, as well as wireless Internet of things connectivity solutions.

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Analyst Recommendations for Cypress Semiconductor (NASDAQ:CY)

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